James Packer
Encyclopedia
James Douglas Packer (born 8 September 1967 in Sydney
, Australia) is an Australian businessman.
Packer is the son of the late media mogul Kerry Packer
and grandson of Frank Packer
. He inherited the family company, Consolidated Press Holdings Limited, which controls investments in Crown Limited
, Consolidated Media Holdings
and other companies. He is the former Executive Chairman of Publishing and Broadcasting Limited
(PBL), which owned some stations of the Australian commercial television network Nine
. His indirect shareholding in Nine through Consolidated Media Holdings is now 0.074 per cent.
in Bellevue Hill, Sydney. After obtaining the Higher School Certificate (HSC) at Cranbrook, Kerry decided it was time to toughen his son up to prepare him for the world of business. He was sent to his father's extensive Newcastle Waters cattle station
in the Barkly Tableland of the Northern Territory
, where he worked as a jackeroo. His father dismissed the idea of sending young James to university by saying "Why would he want to go there. To go learn to smoke marijuana?"
Besides his father, his toughest mentor has been Albert J. Dunlap
.
inquiry over the collapse he denied that he was apologising for his own personal conduct; instead he claimed, "I was making an apology for accepting the bona fides of Mr. Rich
and a Mr. Heaney, and the executive directors of One.Tel."
in Perth, Australia added to PBL's gaming business. Packer has since added further gaming assets in Macau
, in partnership with Lawrence Ho. He is also teaming up with Damian Aspinall
, son of John Aspinall
, in creating a group of casino complexes in Great Britain called Aspers. He already has a stake in casinos in London's West End, Swansea, and Newcastle. Packer's bid for a UK "supercasino" based in Cardiff fell through when only one licence was granted to the northern city of Manchester. PBL also owns 50% of the online gambling company Betfair
. Packer also owns Melbourne's Crown Casino, Australia's largest casino. On 21 October 2010, it was reported in the Australian media that Packer had purchased a 17.88% stake in Network Ten
. In late May 2011 Packer made a reported A$80 million investment in daily deals sites Scoopon and Catch of the Day through a partnership between his Consolidated Press Holding and several other investors, including Andrew Bassat - co-founder of Seek.com.au.
Rich 200
listed Packer as the third richest person in Australia with a personal wealth of A$6.1 billion, behind Fortescue Metals Group
chief executive Andrew Forrest
and Westfield Group's Frank Lowy
. This is the first time in 21 years that a member of the Packer family has not topped the list.
On 18 January 2009, The Sunday Telegraph
reported that due to ongoing financial problems, Packer's wealth dropped to under A$3 billion; also reporting that Packer listed for sale his Mangusta yacht and delayed the purchase of a Boeing Business jet. Yet by mid-2010, it was reported that Packer owned a number of assets including Ellerston Z (a superyacht), Arctic P (a luxury cruise ship and former ice-breaker), a private jet, a 12-seater Sikorsky S-76
helicopter, and a variety of cars including an Aston Martin DB9
coupe.
In 2011, Forbes
magazine estimated that Packer's wealth had increased to US$4.40 billion. Meanwhile, the Business Review Weekly
estimated his wealth at A$4.16 billion a few months later.
Joan Severance
and Deni Hines
. After breaking off a two year engagement to Kate Fischer
, in October 1999, he married swimsuit model Jodhi Meares
with whom he separated in June 2002 and then divorced. He currently resides in the suburb of Bondi
, in Sydney's eastern suburbs. Packer lives in a converted four level apartment, overlooking Sydney's Bondi Beach. His mother lives in the estate (known as Packer Estate) once occupied by his late grandfather, Sir Frank Packer. At the centre of this estate is the "Cairnton" mansion.
Packer married model and singer Erica Baxter, whom he wed in the equivalent of a civil ceremony on 20 June 2007 after dating on and off for four years. The wedding was at the Antibes town hall, and the second ceremony took place at Hotel du Cap - Eden Roc in Cap d'Antibes
on the French Riviera
. Together, Packer and Baxter have a daughter Indigo, born 27 July 2008 and a son Jackson Lloyd, born 1 February 2010.
, Packer began attending the Church of Scientology in Australia, taking courses on the Church's Dundas
business centre. He subsequently confirmed his involvement with Scientology, saying he had found it "helpful". He later distanced himself from the church.
Sydney
Sydney is the most populous city in Australia and the state capital of New South Wales. Sydney is located on Australia's south-east coast of the Tasman Sea. As of June 2010, the greater metropolitan area had an approximate population of 4.6 million people...
, Australia) is an Australian businessman.
Packer is the son of the late media mogul Kerry Packer
Kerry Packer
Kerry Francis Bullmore Packer, AC was an Australian media tycoon. The son of Sir Frank Packer and Gretel Bullmore, the Packer family company owned controlling interest in both the Nine television network and leading Australian publishing company Australian Consolidated Press, which were later...
and grandson of Frank Packer
Frank Packer
Sir Douglas Frank Hewson Packer, KBE , was an Australian media proprietor who controlled Australian Consolidated Press and the Nine Network.-Biography:...
. He inherited the family company, Consolidated Press Holdings Limited, which controls investments in Crown Limited
Crown Limited
Crown Limited is one of Australia's largest gaming and entertainment groups. At June 2010, Crown Limited had a market capitalisation of just over A$6 billion and accounted for 27.53% of the S&P/ASX 200 Hotels Restaurants & Leisure Industry Group....
, Consolidated Media Holdings
Consolidated Media Holdings
Consolidated Media Holdings is an Australia investment company focused on subscription television.-About CMH:Consolidated Media Holdings is a publicly listed Australian company...
and other companies. He is the former Executive Chairman of Publishing and Broadcasting Limited
Publishing and Broadcasting Limited
Publishing and Broadcasting Limited was one of Australia's largest companies, with interests primarily in media and gaming. The company demerged in late 2007, spinning out its gaming interests into Crown Limited...
(PBL), which owned some stations of the Australian commercial television network Nine
Nine Network
The Nine Network , is an Australian television network with headquarters based in Willoughby, a suburb located on the North Shore of Sydney. For 50 years since television's inception in Australia, between 1956 and 2006, it was the most watched television network in Australia...
. His indirect shareholding in Nine through Consolidated Media Holdings is now 0.074 per cent.
Biography
Packer was educated at Cranbrook SchoolCranbrook School Sydney
Cranbrook School is an independent, Anglican, day and boarding school for boys, located in Bellevue Hill and Rose Bay, both eastern suburbs of Sydney, New South Wales, Australia....
in Bellevue Hill, Sydney. After obtaining the Higher School Certificate (HSC) at Cranbrook, Kerry decided it was time to toughen his son up to prepare him for the world of business. He was sent to his father's extensive Newcastle Waters cattle station
Cattle station
Cattle station is an Australian term for a large farm , whose main activity is the rearing of cattle. In Australia, the owner of a cattle station is called a grazier...
in the Barkly Tableland of the Northern Territory
Northern Territory
The Northern Territory is a federal territory of Australia, occupying much of the centre of the mainland continent, as well as the central northern regions...
, where he worked as a jackeroo. His father dismissed the idea of sending young James to university by saying "Why would he want to go there. To go learn to smoke marijuana?"
Besides his father, his toughest mentor has been Albert J. Dunlap
Albert J. Dunlap
Albert John Dunlap is a retired corporate executive. He was best known as a turnaround specialist and downsizer. The ruthless methods he employed to streamline ailing companies, most notably Scott Paper, won him the nicknames "Chainsaw Al" and "Rambo in Pinstripes"...
.
One.Tel
Packer was a director of Australian Telecommunications company One.Tel, which was declared insolvent during May 2001. The collapse of One.Tel cost PBL A$327 million. Packer admitted at a PBL Annual General Meeting that he had learned "painful lessons" from the collapse of One.Tel. Later at the liquidator'sLiquidator (law)
In law, a liquidator is the officer appointed when a company goes into winding-up or liquidation who has responsibility for collecting in all of the assets of the company and settling all claims against the company before putting the company into dissolution....
inquiry over the collapse he denied that he was apologising for his own personal conduct; instead he claimed, "I was making an apology for accepting the bona fides of Mr. Rich
Jodee Rich
John David "Jodee" Rich is an Australian businessman, who founded Imagineering Ltd, a microcomputer software and hardware distributor, One.Tel Ltd, an Australian based telecommunications company, and PeopleBrowsr, a data mining, analytics and brand engagement service provider. at events around...
and a Mr. Heaney, and the executive directors of One.Tel."
Current interests
Since his father's death, Packer has moved away from the family's traditional media businesses, and focused on creating a worldwide gambling empire. The purchase of the Burswood Entertainment ComplexBurswood Entertainment Complex
The Burswood Entertainment Complex is located on the Swan River near the city of Perth, Western Australia, and is owned by Crown Limited. The complex includes a 24-hour casino, seven restaurants, eight bars, a nightclub, two international hotels , a Convention Centre, Theatre and the Burswood Dome...
in Perth, Australia added to PBL's gaming business. Packer has since added further gaming assets in Macau
Macau
Macau , also spelled Macao , is, along with Hong Kong, one of the two special administrative regions of the People's Republic of China...
, in partnership with Lawrence Ho. He is also teaming up with Damian Aspinall
Damian Aspinall
John Damian Androcles Aspinall , is an English casino owner, aspiring songwriter and conservationist, notable for his raising and release of Kwibi, a zoo-bred Lowland Gorilla in Gabon. He is the son of Jane Gordon Hastings and John Victor Aspinall, zoo owner, gambler and founder of Aspers, and...
, son of John Aspinall
John Aspinall
John Aspinall may refer to:* John Aspinall , zoo owner and gambler* John Aspinall , engineer* John Thomas Walshman Aspinall , English Conservative Party politician, Member of Parliament for Clitheroe 1853...
, in creating a group of casino complexes in Great Britain called Aspers. He already has a stake in casinos in London's West End, Swansea, and Newcastle. Packer's bid for a UK "supercasino" based in Cardiff fell through when only one licence was granted to the northern city of Manchester. PBL also owns 50% of the online gambling company Betfair
Betfair
Betfair is the world's largest Internet betting exchange. The company is based in Hammersmith in West London, England. Since Betfair was launched in June 2000 it has become the largest online betting company in the UK and the largest betting exchange in the world. Betfair claim to have over 3...
. Packer also owns Melbourne's Crown Casino, Australia's largest casino. On 21 October 2010, it was reported in the Australian media that Packer had purchased a 17.88% stake in Network Ten
Network Ten
Network Ten , is one of Australia's three major commercial television networks. Owned-and-operated stations can be found in Sydney, Melbourne, Brisbane, Adelaide and Perth, while affiliates extend the network to cover most of the country...
. In late May 2011 Packer made a reported A$80 million investment in daily deals sites Scoopon and Catch of the Day through a partnership between his Consolidated Press Holding and several other investors, including Andrew Bassat - co-founder of Seek.com.au.
Wealth
Packer first appeared on various wealth lists in 2006, following the death of his father the previous year and the intergeneration transfer of the bulk of Kerry Packer's wealth to his son, James. James Packer's wealth peaked at A$7.25 billion in 2007, however due to poor investment decisions and falling profits, a television report on 21 June 2007 revealed that Packer has lost in excess of $1 billion over the previous six months. As a result, the 2008 BRWBRW
BRW may refer to:* Black and red ware culture* Black River and Western Railroad* Brunswick railway station* Business Review Weekly* Wiley Post–Will Rogers Memorial Airport in Barrow, Alaska, USA...
Rich 200
BRW Rich 200
The BRW Rich 200 is a list of Australia's two hundred wealthiest individuals and families, ranked by personal net worth. The list is released annually during May in a special issue of the Business Review Weekly, published by Fairfax Media....
listed Packer as the third richest person in Australia with a personal wealth of A$6.1 billion, behind Fortescue Metals Group
Fortescue Metals Group
Fortescue Metals Group is an Australian iron ore mining company. The company has holdings of more than 87,000 km² in the Pilbara region of Western Australia making it the largest tenement holder in the state. It is listed as FMG on the Australian Securities Exchange .In 2008, the group loaded...
chief executive Andrew Forrest
Andrew Forrest
Andrew Forrest also known by his nickname "Twiggy", is a Western Australian mining entrepreneur, former chief executive officer, non-executive chairman, and the major shareholder of Fortescue Metals Group...
and Westfield Group's Frank Lowy
Frank Lowy
Frank Lowy, AC is an Australian-Israeli businessman. He is a co-founder of the Westfield Group, operator of over 100 shopping centres in Australia, New Zealand, the United States and Great Britain...
. This is the first time in 21 years that a member of the Packer family has not topped the list.
On 18 January 2009, The Sunday Telegraph
The Daily Telegraph (Australia)
The Daily Telegraph is an Australian tabloid newspaper published in Sydney, New South Wales, by Nationwide News, part of News Corporation.The Tele, as it is also known, was founded in 1879. From 1936 to 1972, it was owned by Frank Packer's Australian Consolidated Press. That year it was sold to...
reported that due to ongoing financial problems, Packer's wealth dropped to under A$3 billion; also reporting that Packer listed for sale his Mangusta yacht and delayed the purchase of a Boeing Business jet. Yet by mid-2010, it was reported that Packer owned a number of assets including Ellerston Z (a superyacht), Arctic P (a luxury cruise ship and former ice-breaker), a private jet, a 12-seater Sikorsky S-76
Sikorsky S-76
The Sikorsky S-76 is an American medium-size commercial utility helicopter. The S-76 is powered by two turboshaft engines, which drive both the main and tail rotors, each with four blades...
helicopter, and a variety of cars including an Aston Martin DB9
Aston Martin DB9
-DB9 Volante:The Aston Martin DB9 Volante is the convertible version of the DB9 coupe. It is built by hand in limited numbers and has enhanced styling. It is powered by the same 6.0 litre, DOHC 48 valve V12 as the DB9 and is completed with 470 bhp and a top speed of 186 mph...
coupe.
In 2011, Forbes
Forbes
Forbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week...
magazine estimated that Packer's wealth had increased to US$4.40 billion. Meanwhile, the Business Review Weekly
Business Review Weekly
BRW is an Australian weekly business magazine published by the Fairfax Media group. It regularly compiles lists which rank corporations and individuals according to various criteria, similar to Fortune magazine in the United States.BRW provides news and commentary on the economy, business and...
estimated his wealth at A$4.16 billion a few months later.
Wealth rankings
| Year | BRW BRW BRW may refer to:* Black and red ware culture* Black River and Western Railroad* Brunswick railway station* Business Review Weekly* Wiley Post–Will Rogers Memorial Airport in Barrow, Alaska, USA... Rich 200 BRW Rich 200 The BRW Rich 200 is a list of Australia's two hundred wealthiest individuals and families, ranked by personal net worth. The list is released annually during May in a special issue of the Business Review Weekly, published by Fairfax Media.... |
Forbes Australia's 40 Richest |
||
|---|---|---|---|---|
| Rank | Net worth Net worth In business, net worth is the total assets minus total outside liabilities of an individual or a company. For a company, this is called shareholders' preference and may be referred to as book value. Net worth is stated as at a particular year in time... (AUD Aud Aud might refer to*Australian dollar *Ambedkar University, Delhi *American University in Dubai *Doctor of Audiology *Auðr, the son of Nótt and Naglfari in Norse mythology... ) |
Rank | Net worth Net worth In business, net worth is the total assets minus total outside liabilities of an individual or a company. For a company, this is called shareholders' preference and may be referred to as book value. Net worth is stated as at a particular year in time... (USD) |
|
| 2006 | 1 | $7.10 billion | 1 | $5.20 billion |
| 2007 | 1 | $7.25 billion | 1 | $5.50 billion |
| 2008 | 3 | $6.10 billion | 3 | $5.30 billion |
| 2009 | 6 | $3.00 billion | 1 | $3.10 billion |
| 2010 | 6 | $4.10 billion | 3 | $3.50 billion |
| 2011 | 6 | $4.16 billion | 3 | $4.40 billion |
| Legend | |
|---|---|
| Icon | Description |
| Has not changed from the previous year | |
| Has increased from the previous year | |
| Has decreased from the previous year |
Personal life
Packer's past girlfriends have included Tania BryerTania Bryer
Tania Bryer is a British television personality, occasional fashion model, journalist, and motivational speaker. She is the daughter of Lionel Bryer and grew up in Knightsbridge.-Biography:...
Joan Severance
Joan Severance
-Early life:Severance was born in Houston, Texas to John and Martha Severance. Her father was an IBM Systems Manager that had to move frequently around the world. According to Severance "by the time I was 11, we'd lived in 12 different places". Severance and her family also lived in Libya, but in...
and Deni Hines
Deni Hines
Dohnyale "Deni" Sharon Hines is a solo R&B artist who had chart success in the 1990s in Australia and New Zealand. She is the daughter of Marcia Hines....
. After breaking off a two year engagement to Kate Fischer
Kate Fischer
Kate Fischer, aka Katie Fischer, is an Australian model and actress. She attended the Canberra Girls' Grammar School....
, in October 1999, he married swimsuit model Jodhi Meares
Jodhi Meares
Jodhi Meares is an Australian fashion designer, former glamour model, and television personality.-Early life:...
with whom he separated in June 2002 and then divorced. He currently resides in the suburb of Bondi
Bondi, New South Wales
Bondi is an eastern suburb of Sydney, in the state of New South Wales, Australia. Bondi is located seven kilometres east of the Sydney central business district, in the local government area of Waverley Council. The postcode is 2026.-Location:...
, in Sydney's eastern suburbs. Packer lives in a converted four level apartment, overlooking Sydney's Bondi Beach. His mother lives in the estate (known as Packer Estate) once occupied by his late grandfather, Sir Frank Packer. At the centre of this estate is the "Cairnton" mansion.
Packer married model and singer Erica Baxter, whom he wed in the equivalent of a civil ceremony on 20 June 2007 after dating on and off for four years. The wedding was at the Antibes town hall, and the second ceremony took place at Hotel du Cap - Eden Roc in Cap d'Antibes
Antibes
Antibes is a resort town in the Alpes-Maritimes department in southeastern France.It lies on the Mediterranean in the Côte d'Azur, located between Cannes and Nice. The town of Juan-les-Pins is within the commune of Antibes...
on the French Riviera
French Riviera
The Côte d'Azur, pronounced , often known in English as the French Riviera , is the Mediterranean coastline of the southeast corner of France, also including the sovereign state of Monaco...
. Together, Packer and Baxter have a daughter Indigo, born 27 July 2008 and a son Jackson Lloyd, born 1 February 2010.
Friendship with Tom Cruise
In 2002, following the breakdown of his marriage, and the development of a friendship with Tom CruiseTom Cruise
Thomas Cruise Mapother IV , better known as Tom Cruise, is an American film actor and producer. He has been nominated for three Academy Awards and he has won three Golden Globe Awards....
, Packer began attending the Church of Scientology in Australia, taking courses on the Church's Dundas
Dundas, New South Wales
Dundas is a suburb of Sydney, in the state of New South Wales, Australia. Dundas is located 22 kilometres north-west of the Sydney central business district in the local government area of the City of Parramatta.-History:...
business centre. He subsequently confirmed his involvement with Scientology, saying he had found it "helpful". He later distanced himself from the church.